Neurocrine Biosciences (NASDAQ:NBIX) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Neurocrine Biosciences (NASDAQ:NBIX) from an equal weight rating to an overweight rating in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have $170.00 price objective on the stock, up from their prior price objective of $140.00.

Several other research analysts have also weighed in on the stock. Mizuho upped their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Needham & Company LLC restated a hold rating on shares of Neurocrine Biosciences in a research report on Tuesday. StockNews.com upgraded shares of Neurocrine Biosciences from a buy rating to a strong-buy rating in a research report on Thursday, February 8th. Barclays increased their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $142.38.

Neurocrine Biosciences Trading Down 0.8 %

Shares of NBIX opened at $138.97 on Wednesday. The firm’s 50-day moving average is $136.48 and its two-hundred day moving average is $127.62. Neurocrine Biosciences has a twelve month low of $89.04 and a twelve month high of $148.37. The firm has a market capitalization of $13.83 billion, a P/E ratio of 57.43 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts predict that Neurocrine Biosciences will post 4.84 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,683,637.64. The disclosure for this sale can be found here. Insiders have sold a total of 186,994 shares of company stock worth $25,806,409 in the last quarter. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its holdings in shares of Neurocrine Biosciences by 10.5% during the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after acquiring an additional 74 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Neurocrine Biosciences by 3.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after acquiring an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after acquiring an additional 78 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Neurocrine Biosciences by 34.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after acquiring an additional 83 shares in the last quarter. Finally, Balentine LLC lifted its holdings in shares of Neurocrine Biosciences by 4.0% during the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.